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In July Gazprom Neft will Receive $280 Million under a Syndicated Loan.

In July JSC Gazprom Neft plans to receive $280 million under a syndicated loan for the total amount of $630 million

The arrangers of the loan are ABN Amro Bank, Citibank N.A. and BayernLB. The first tranche of $370 million was received on May 16, 2006.

The loan is raised for the term of more than three years with the rate of LIBOR + 0.6 %.

The purposes of loan are refinancing of the existing loan portfolio of the company and replenishment of its working capital.